Good evening dear Student,
Today, I will teach you what are the main intangible assets in balance sheet. Before this, you should know its importance. If you are doing job or doing small business and if you have focus to collect assets but your knowledge is very less. You think that shares in your pocket, some good mutual funds, gold, fd and real state are the assets in balance sheet. So, you invest your money and time to collect this. That is great but you have to remove the cover from your ignorance. These assets are called tangible assets in balance sheet. You have to invest your money and time also to collect Intangible Assets which does not see but they are powerful. Big tech company's big amount in intangible assets and they are more powerful than traditional assets holders. Know all these intangible Assets in Balance Sheet
1. Copyright
(A) Contents on Your Website
You see this university website. It has 3400+ contents. All have my copyright. No one can publish any content without my permission. So, 3400+ contents on www.svtuition.org is copyright asset which is intangible asset and it will show in my balance sheet. If I will sell my website, I will get the price of this copyright.
This copyright brings money in my pocket.
I can sell direct ads on this website and make money
I can show my own ebooks ads and make money
I can sell online accounting course and make money
As you or me write more online quality contents, your or my intangible assets will increase.
(B) Books and eBooks Publishing Rights
Books and eBooks has author and publisher copyright. So, written books's copyright is intangible asset.
I have written 73 eBooks. I have its copyright. If I sell it to any publisher, it has big price. If you are the seller of books and you have physical stock, it is your books stock tangible asset not intangible asset.
(C) Your Published Apps
If you have the apps and you have published in store, it is your intellectual property and it is your intangible asset.
No one can copy my app and publish. I have power to remove their app from google play store because I have its copyright.
(D) YouTube Videos
You have created youtube videos. It is your intangible asset and it will show in your balance sheet as intangible asset. I have created 6000+ videos with my team. That is reason, I have 189500 subscribers in different channels. So, it has financial value. So, it will show in my balance sheet as copyright intangible asset.
2. Trade Mark
What you see Logo on the website, it has my trade mark. No one in the world can do business with this name and logo. No one can use www.svtuition.org without my permission. So, I will show it as big intangible asset in my balance sheet. If you have any product logo or design, it is your trade mark.
3. Franchise
I can give my university name for getting franchise fees. For this, they have to follow my terms and condition and then any businessman can use my business name. When I will give franchise. Same agreement will be my asset because it gives me money in my pocket.
4. Brand
Brand becomes when you invest your time and money for marketing of your name. It convince your customer to buy your products. So brand is intangible asset which shows in balance sheet.
Accounting education is big brand and I spend day and night since 2008
5. Goodwill
Goodwill means reputation. If your brand is strong, your goodwill asset will increase which does not show
Truthfulness increases your balance sheet goodwill asset and no one can break it if your are truthful.
6. Patents
Patents means license for making product or service on the basis of your secret invention. So, it is your asset, you can sell your patent rights for getting patent fees of 20% to 30%. So, we will show it as intangible asset in your balance sheet.
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